Though the widespread of using the credit cards has been offering substantial benefits for individuals in recent years, it may cause several problems as well. In my opinion, individuals are beneficiaries rather than victims for using a credit card.
It is true that the inappropriate credit card using may bring several inconveniences to us. For example, the banks usually deliberately encourage people to spend money in advance and advocate the card owners to pay back later. However, it may pose a serious threat to the teenagers as they lack of finance management and self-control capabilities. Moreover, it may leave both individuals and the banks to serious financial difficulties when the card owners are not able to pay the debts timely. As a consequence, people in debt may lose their homes and the banks lose money which influences the whole economy development.
However, there are several essential benefits for individuals in different occasions as well. Firstly, the credit card facilitates individuals’ daily business. For instance, people are able to pay various bills such as monthly water payment with a credit card and pay back later, even without interests attached. Secondly, the credit card could be significant useful when people confront with an emergency or afford something quite expensive, such as an overseas vacation. In addition, the banks usually offer various schema like monthly pay back to alleviate individuals’ financial pressure. Furthermore, the credit card is widely considered as a more safe way while it is quite risky to pay a large amount of cashs in some occasions.
In conclusion, despite of some potential risks for using a credit card, people are more likely to benefit from its conveniences and flexibility in a variety of daily businesses.